View.com.au is the fastest growing residential property portal in Australia with a 102 per cent growth in unique audience since October according to new data.
IPSOS released new data which compared property portal data from October to February with the majority of portals have declined or have had very low growth*.
View’s had a 102 pre cent growth increase, while realestate.com.au was the next best with a 2.2 per cent growth.
Domain’s portal had a decline of 2.6 per cent, while Allhomes’ portal declined by 9.0 per cent and Homely declined by 0.5 per cent.
View.com.au’s chief marketing officer Paul Tyrrell said it’s fantastic to see such strong audience growth on View as they continue to enhance the product and build the brand.
“Our consumer proposition is unique and features over 136,000 properties for sale, however it offers a complete view of the market with access to nearly 11 million properties Australia wide, with buyers able to express interest in properties even if they’re not for sale. All delivered by best in class mapping from Nearmap,” he said.
“The marketing campaign is now in full swing and we’ve seen some massive spikes, particularly from our broadcast partnership with Channel 7’s AFL coverage. To be the fastest growing property portal in the country is a testament to the hard work of the team and a clear demonstration of the need for a competitive alternative in the property portal space.”
“Our agent partners are enjoying the benefit of this audience growth with our premium product delivering up to 10 times more enquiry than our free product. But we’re only just getting started, watch this space.”
Homely’s February total audience dropped to 600,000 with View’s February audience over 80 per cent higher at 1.1 million according to IPSOS data, with users of View spending on average 2.8 times longer on site than they did on Homely on
While internal Google Analytics data is showing nearly 1.7M Users for the month of February on View.
The executive team behind View includes seven ex-Domain executives that successfully took Domain to a $2.2 billion listing on the ASX and the company is headed up by former Domain chief executive Antony Catalano.
“We’re seeing the proposition we’ve built clearly resonating with consumers and we’ve got great momentum,” Mr Catalano said.
“Our freemium model for agents presents a true alternative to the traditional listings model; it’s free to list on View and our low cost premium product is performing incredibly well and delivering strong value for agents and vendors. We can make it free or keep prices low because VMG’s business model is not predicated on listings revenue, where the only option is annual price increases. We’re creating a true property ecosystem that caters to all steps along the property journey.
“While REA continues to cement its number one position, Domain’s audience has stagnated and we’re seeing some agents downgrading or dropping them from their advertising schedule due to high costs, underperformance and questionable return on investment. The industry is fed up with the status quo.
“We are the first genuine challenger to Domain’s number two audience position, having been propelled into the number three position for residential property portals showcasing properties for sale in only five months and relegating Homely to the number 6 portal behind Allhomes.”
